South Carolina Senator Tim Scott on economy and House Speaker nominations
(CBS, KYMA/KECY) - South Carolina Senator and GOP Presidential hopeful Tim Scott spoke with Face the Nation host Margaret Brennan on Sunday about the economy.
"Well, all you have to do is talk to the average American family and ask them what they feel, how they feel about 'Bidenomics.' The answer is very simple. We've lost over $5,000 of spending power since January 2021. We should always celebrate the creation of jobs, but we should never forget that we went 52 consecutive paychecks...52 consecutive paychecks with a loss of spending power," Scott spoke.
When asked if political leadership was to blame, and not the Federal Reserve, Scott said:
"if you think about the fact that over the last, I guess year and a half, we've seen a 16% inflation since Joe Biden's taken office, which led to 11 consecutive rate increases, that downward pressure on economy certainly created cracks and fissures throughout the economy. That was caused by Joe Biden's lack of leadership and understanding of how to create jobs in America."
Potential government shutdown and House Speaker nominations
During the interview, Brennan asked Scott how confident he is if Congress avoids a government shutdown next month, to which he responded:
"You have until November the 17 to figure that out...I will say without any question, the road to socialism runs right through a divided Republican Party. When you have 221 members of the party in the House, you need 218 to choose a speaker. One of the things they should do is go behind closed doors. Let's figure this out in advance."
When asked if Scott had a Speaker of the house in mind, he said he doesn't.
"One of the things I've noticed about those of us outside of the House, the last thing we need are more voices in the House...There are multiple factions in the House. The last thing we need are more voices on the outside weighing in on the House of Representatives," Scott added.
To watch more of Brennan's interview with Scott, click here.
